DeFi Technologies Inc. Q1 FY2024 Earnings Call
· Earnings call transcript and AI-powered summary
Q1 2024 Financial Highlights (vs. Prior Periods)
- Cash Balance: $9.4 million as of March 31, 2024, up from $6.7 million as of December 31, 2023.
- Venture Portfolio Investments: Valued at $41.8 million as of March 31, 2024.
- Assets Under Management (AUM): $908 million as of March 31, 2024, up 78.7% from $508 million as of December 31, 2023 (primarily from new product launches and digital asset price recovery).
- Operating Revenues: $13.4 million for Q1 2024, a significant improvement from $3.6 million in Q1 2023.
- Total Revenues: $4.9 million for Q1 2024, down from $11.3 million in Q1 2023.
- Operating General & Administration Costs: $3.3 million for Q1 2024, up from $2.1 million in Q1 2023.
- 2024 Annualized Operating Revenue Forecast: Approximately $119 million (USD ~90 million), driven by AUM growth; company noted 800% AUM increase from late 2022 market lows.
AUM, Trading & Revenue Outlook
- Valour AUM at ~$908 million with daily trading volumes exceeding $20 million; net inflows nearly every trading day.
- Forecast: At BTC ~$100k and SOL ~$225, AUM could reach ~USD 1.35 billion (under CAD 2 billion); potential yields of 8-9% (or higher with staking on Core network), implying ~USD 135 million in revenues at 10% yield.
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